HM Treasury News Release
MIT CHOOSES UK AS EUROPEAN PARTNER
MIT and Cambridge University will jointly establish an Institute which will :
*undertake education and research designed to improve the UK's entrepreneurship,
productivity and competitiveness;
The Government will contribute around £14 million a year, on average, over the next 5 years towards the costs of establishing the Institute. The Universities will raise £16 million from the UK private sector. Welcoming the development, Gordon Brown said:
"This is a path breaking innovation. By choosing the UK as its European
Partner, MIT has recognised our country's strengths. The new Institute
will help us build on those by generating new ideas and by creating
new business and jobs."
"The Institute will help place the UK at the cutting edge of the
globalisation of higher education. It will bring advantages not only
to Cambridge University, but to universities across Britain through
the new network of Enterprise Centres."
"Securing this is a major achievement. The combination of Cambridge
and MIT will bring a dynamic force to support our agenda of innovation,
enterprise and entrepreneurship. It will strengthen the UK's position
in the knowledge driven economy of the future."
"This will be the only institutional partnership which MIT will
have in Europe. The University of Cambridge and the Massachusetts
Institute of Technology are joining forces in Europe to create a new
model for global higher education. We will build on our complementary
strengths to invent the future of education, research and economic
development. The foresight of the British Government, the combined
strengths of our facilities, and a growing alliance with far-sighted
industries will establish extraordinary new pathways toward a creative,
productive and entrepreneurial society in the new century."
"The Cambridge-MIT Institute will be a beacon for change. It will
bring a new dimension to education and research at British universities.
We aim to work closely with the business community to provide the
education and the ideas needed for success in the 21st Century."
The Council for Excellence in Management and Leadership aims to
improve the capacity and competencies of UK managers. The Council
will be a small group of top industrialists and entrepreneurs, chaired
by Sir Anthony Cleaver, Chairman of AEA Technology. Its first task
will be to develop a management strategy and examine the way that
management education is organised and delivered. Funding of around
£ 1 million will be available from DFEE and DTI jointly.